David Tepper is an American hedge fund manager, philanthropist and a businessman. He owns several properties and businesses which have helped him accumulate a lot of net worth. The article will inform more about his career, early life and biography. His personal life will also be highlighted. Now let’s have a close look on the net worth of David Tepper in 2018.
Early Life & Biography:
He was born on September 1957, in the United States of America. He was raised in a Jewish family, and they lived in the East End of Pittsburgh, which is located in Pennsylvania. He is the second born in a family of three children. He is a son to Harry, who used to work as an accountant and Roberta, who worked as an elementary school teacher, teaching at public schools in the city.
He went to Peabody high school and the University of Pittsburgh, where he used to help his parents in paying for his school fees by working at the Frick Fine arts library. He later graduated with a Bachelor of Arts degree in economics. After his graduation, he was given two investments by his father, Pennsylvania Engineering Co. and Career Academies. The two companies went bankrupt after some time.
In his young age, he used to play football. Later, he got into the finance industry, where he worked as a credit analyst in the treasury department, at Equibank. In 1980, he joined Carnegie Mellon University School of business, to pursue an MBA.
He married Marlene Resnick Tepper in 1986. The couple has three children: Casey, Randi and Brian. In the year 2014, there was some information from the media which stated that he separated from his family. However, this information was not verified. In 2016, he moved his company and family to Miami Beach in Florida.
Career, Awards & Nominations:
David has worked in different fields. His career journey started at Equibank, where he used to work in the treasury department. Later after graduating with his Masters degree, he started working for Republic Steel. In the mid-1980s, he went to work for Keystone Mutual Funds. After that, he was given another job offer at Goldman-Sachs, where he worked eight years and became the head trader on a high yield desk.
In 1993, he founded Appaloosa Management, which has been doing relatively well compared to other companies during an economic downturn. In 2011, he sold interests in Pfizer, Yahoo, Bank of America and HP and return purchased more stakes in General Motors and oil refineries. In 2018, he finalized buying Carolina Panthers, which is of the National Football League.
Net Worth & Earnings:
Through his career and businesses, David has been able to gain a lot of wealth. He was employed for a period of time, but he later decided to join the business world. He has several businesses, properties and companies, which are his main source of income. Currently, his net worth is estimated to be $11 billion.
David is a hardworking businessman who runs his own companies, which generates a lot of income for him. He has been able to accumulate a huge net worth through his several careers. He has a family and three kids. He is well educated with a master’s degree. His net worth is most likely to increase in future since his companies are still running.